Veritabus checked prices last week at Krónan, Nettó, Hagkaup and Heimkaup.
I. Average price increase of individual shops
Based on a survey by ASÍ conducted in September 2021, the average price increase for 101 products was 10%.
calculated for individual stores. The development of the individual store indices is shown below:
As can be seen in the table, Heimkaup has increased the most of these four stores, and its average price is now higher than that of Hagkaup. Meanwhile, Krónan is the cheapest of these stores.
As can be seen in the tables above, Heimkaup has significantly increased its prices in recent months. Meanwhile, Hagkaup has increased its prices the least of these four stores.
II. Price comparison with abroad
Veritabus checked prices at Tesco in the UK and ICA in Sweden to compare prices here in Iceland and abroad. A basket was created using products from the average Icelandic family's shopping. Shops Index Uncertainty Krónan 5.7% 1.5% Nettó 7.3% 2.6% Hagkaup 5.5% 2.8% Heimkaup 16.5% 3.6% Shops Average Price Median Price Krónan 477 389 Nettó 499 399 Nettó app 489 391 Hagkaup 563 449 Heimkaup 531 414 Shops Average Price Median Price Median increase Krónan 514 399 2.6% Nettó 555 429 7.5% Nettó app 544 420 7.5% Hagkaup 571 449 0.0% Heimkaup 615 478 15.5% 2 landi would buy to last them through the week, and the products that were chosen numbered 35.
According to the redfish survey, the redfish at Krónan (the shop with the cheapest price in the survey in Iceland) was 53% more expensive than at Tesco in the UK, 12% more expensive than at ICA in Sweden and 25% more expensive than at Franprix in France.
III. About Veritabus and the price survey
Veritabus is a sister company of the Arev securities firm. All Veritabus price surveys, as well as other public price surveys, can be found on the Veritabus website for subscribers.
101 product lines in the Icelandic price survey that were available in all the stores were examined. The basket survey included a total of 53 products and 35 individual sale items. The survey was conducted last week in stores and online. In the stores, prices were read from the shelf labels.
Prices were originally checked online, but if anything was unclear or a product could not be found online, the in-store price was checked specifically.